The Telegraph: Economic Focus Should Shift from the BRICs to Africa’s Emerging Markets

The English newspaper claims that corruption and vested interests are stifling growth in the BRIC

In an article written by The Telelgraph, journalist Roger Bootle picks apart the reasons why he feels growth the BRIC will slow. His final few paragraphs sum up his opinion neatly…

China needs to become more like Brazil with its consumption-led growth; Brazil and Russia need to become more like China and raise investment rates and India needs to break out from its over-regulation and invest more in infrastructure. But in all four cases, vested interests are likely to prevent a radical shift in policy.

This does not mean, though, that we should write off the emerging markets boom overall. Far from it.

Just as the BRICs have slowed, so other emerging markets have started to improve.

I reckon that the two countries with the most exciting prospects over the next 10 years are African – Ghana and Nigeria – with several other African countries not far behind.